Tuesday, June 01, 2010

Good Luck With That

BP and other defendants in spill cases asked the multidistrict panel to put the case in Houston, home of each one’s U.S. operational headquarters. The companies asked that the case be assigned to Judge Lynn Hughes.

Hughes has lectured for an oilfield industry professional group that pays his travel expenses, according to filings obtained from the Judicial Watch website.

Hughes also owns six mutual funds that include shares in companies involved in the spill, including one fund whose largest component is Anadarko Petroleum Corp., a minority partner in the damaged well, according to the filings.

Among Hughes’s reported mutual fund holdings are Legg Mason Aggressive Growth Fund, which was almost 10 percent Anadarko at the end of March, and AIM Basic Value Fund, which included shares of Halliburton and Transocean as of the same period.